In September, Pi Network reduced its base coin mining rate once again, generating significant attention when a major investor transferred 6.5 million PI coins. Investors are particularly focused on what these developments might mean for the altcoin.
Base Mining Rate Reduced by 1.23%
The official announcement from Pi Network confirmed that the September base mining rate had been lowered to 0.0027405 PI per hour, marking a reduction of 1.23% compared to August. Creating a single PI coin at the current rate, without bonuses, takes over 15 days, yielding an annual total of merely 24 PI coins. This reduction followed a more substantial cut in August, which saw the rate decrease by 8%. The adjustment seeks to maintain controlled distribution of coins within the network, gradually reducing supply.
In addition, blockchain data indicates a significant investor recently moved 6.5 million PI coins to the OKX exchange. Although the purpose of this transfer remains unclear, speculation within the community leans toward a potential sale. Despite these circumstances, the price of PI coin maintains stability at around $0.35.
New Partnerships and Collaborations
Further developments have occurred within the Pi Network ecosystem. Thanks to an integration with Onramp Money, users can now acquire PI coins using local payment methods in over 60 countries. This partnership notably eases access in regions where exchanges face restrictions. In Europe, Valour launched the first PI-based exchange-traded product (ETP) on the Swedish Spotlight Exchange.
Additionally, the network is enhancing its visibility at international events. Pi Network will be among the gold sponsors at the Token2049 conference in Singapore, where founder Nicolas Kokkalis is expected to make an appearance, having previously participated in the Consensus 2025 event.
On the technical side, Protocol Update 23 is underway. This update will integrate KYC verification directly into the blockchain, streamlining the compliance process.
